A request that the confirming party respond directly to the auditor indicating whether the confirming party agrees or disagrees with the information in the request, or providing the requested information. Positive confirmation request Negative confirmation request External Confirmation Internal Confirmation

A request that the confirming party respond directly to the auditor indicating whether the confirming party agrees or disagrees with the information in the request, or providing the requested information. Positive confirmation request Negative confirmation request External Confirmation Internal Confirmation

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter9: Auditing The Revenue Cycle.

Section: Chapter Questions

Problem 32RQSC

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Similar questions

A CPA accumulates various types of evidence on which to base the opinion on financial statements. Among this evidence are confirmations from third parties.Required:a. What is an audit confirmation?b. What characteristics of the confirmation process and the recipient are important if a CPA is to consider the confirmation evidence appropriate?
The information used by auditor in arriving at conclusions on which auditor’s opinion is based is called ________________ Audit Evidence Substantive procedures Vouchers Auditor’s Report
An auditor obtains evidence regarding the assertion of Completeness by sending confirmations. Question 10 options: True False
Audit procedures are takes performed by the internal auditors and the auditee to gather the evidence required achieve audit objectives . Select one a. False b. True
How the relevancy deals in the information to be used as an Audit Evidence? O a. Audit evidence in document form is more relevant O b. Logical connection between purpose of the audit procedure and the assertion under consideration O . Relevancy is increased when obtained from dependent sources O d. Confirmation from the third parties
Why is it necessary to pre-number reports received? In what way might an auditor examine a claim made in the receiving reports?
What type of audit report does a client typically want or hope for?
What type of audit opinion is preferred when analyzing fi nancial statements? B . Adverse.
What type of audit opinion is preferred when analyzing fi nancial statements? A . Qualifi ed
What should an auditor do prior to accepting an audit engagement?
When testing the existence assertion, the auditor will take the vouching direction when examining documents. * True False
Evidence that will be needed by a practitioner which will assist in forming an opinion with regards to any material misstatements that are presented in financial statements is known as a report in which assurance is written. Select one: O True False